Drilling campaign successfully delineated additional extensions of known lodes and identified additional high grade targets
North River Resources plc, the AIM quoted resource company focused on the Namib Lead-Zinc Project in Namibia (“Namib” or the “Project”), wishes to provide an update on its drilling campaign, since the previously announced JORC compliant mineral estimate in August 2014
Highlights
- 4,828 metres drilled since August 2014
– Results provide management with further confidence in the previously announced JORC compliant Mineral Resource Estimate
– Delineated extensions of known lodes and high grade targets indicated by significant intersections including:
o NLDDK070: 3.6m @ 15.6% Zn, 1.0% Pb
o NLDDK071: 7.3 @ 14.9% Zn, 3.2% Pb & 4.5m @ 9.3% Zn, 13.6% Pb
o NLDD062: 3.8m @ 10.9% Zn, 8.7% Pb
o NLDD061: 5.7m @ 16.8% Zn, 6.9% Pb
o NLDD056: 8.7m @ 9.6% Zn, 3.7% Pb,
– Resource expansion drilling campaign announced on 19 November 2015 underway; the targeting of drill holes is informed by the results of the infill drilling campaign. Results of the resource expansion drilling will be released in due course.
Detail
As previously announced, North River has been undertaking a drilling campaign at the Namib Lead-Zinc project. Since the last Mineral Resource Estimate (MRE) of August 2014, a total of, 4828 metres of drilling have been completed in 66 holes. Of these, 52% (34 holes) had significant intercepts, see details in Table 1.
The drilling campaign focussed primarily on targeting both new extensions of known mineralised shoots, as well as infill drilling to potentially convert Inferred Mineral Resources into the Indicated Mineral Resource category. Drilling was undertaken mainly in the top half of the North Orebody and also below the historic South Mine, which is around 200m below surface. The majority of the Company’s current Inferred Mineral Resources lie below the South Mine, which is also referred to as the Southern orebody (see figures in appendix). In general, the drilling results in both areas have met management’s expectations and increased its confidence in the Mineral Resource.
